The World Bank has approved a $300 million loan to benefit up to 7.4 million Nigerians living in internally displaced persons (IDP) camps and within host communities across northern Nigeria.

The development was announced in a statement released on Monday, indicating that the approval was granted on August 7, 2025.

This funding aims to enhance resilience and improve access to vital services for both displaced individuals and their host populations in the region.

Commenting on the initiative, the World Bank’s Country Director for Nigeria, Mathew Verghis, noted its importance in addressing long-standing development issues tied to displacement.

“We are pleased to support this initiative, which holds significant promise in helping Nigeria sustainably tackle the challenges linked to prolonged displacement,” Verghis stated.